How to invest in Art?

Leading art experts advise you on the right artists and art to investDon’t just go for the prestigious artists. Buy the work of some, young budding artists too.Buy something with passion, not just as an investment. The work is most likely to go up in value anyway.Research the artist and his workRead the latest art magazines and publications. Be up-to-date with information.Attend as many art events as possibleRefine and develop your eye for art.Keep a list of galleries and visit exhibitions.If you buy an artist who is not living, you will need proper documentation. Have a condition report made.Remember, there are a number of things a collector should be looking at. Insurance is one of them.Who would have thought, a decade ago, that art could be a sound investment? Well, many people did and today investing in art is big. But how does a novice begin investing in art? Says Aporajita Mukerji owner of an online art portal, “the most important investments are knowledge and appreciation. Enroll for an art appreciation course, read up exhaustively on the net and peruse catalogues and art letters as well.”Adds art collector Harsh Goenka who estimates the current art market in India to be worth about Rs 1,200 crore ( $ 240000), “ one needs to have an eye for spotting good works and a fairly good understanding of the artist, “ he says, “ The established ones, of course. Then there are many promising youngsters in Baroda as well.” For those who are keen on investing, his advice is , “ Go by your gut feel. Visit galleries, look at art and most importantly, ask questions.”Likewise, Neville Tulli who heads Osian’s feels that the market is at a very nascent stage at the global level. For him, the value of an artwork in the medium-long term is the historical significance of the artist and his work. Independent curator and gallery owner Vikram Sethi opines that India has an undefined art market that needs to be tapped. He believes that quality art makes for a good investment. To him, it’s the youngsters who hold promise. But he cautions that only those with strength in their art will have lasting value.” Art is a great investment and buying art is sexy as it puts you on the top of the world,” he states.The art market is growing, with awareness spreading across the globe about the potential contemporary Indian art as an investment, According to art dealer Ashish Balram Nagpal, art that is honest and not merely pretty, will survive. “ An artist should stick to his personal stand, for the statement that his art wants to make, “ he believes.Art collector and a regular at art events, Pritish Nandy says, “As the art market is a nascent one, estimates regarding its size are vague. But it is growing and will soon be comparable to art markets overseas. “A good and sound art investment can be of three types: contemporary masters, the old classics, and new and young talent. According to him, artist to watch out for are Prabhakar Barve, Vaikuntam, Laxman Gaud, Jeram Patel, Shakti Burman, Ghulam Mohammed Sheikh, scultures like Prithpal Singh Ladi and Himmat Shah.